121 Koornang Road, Carnegie, VIC 3163 | Commercial for sale | OnTheHouse
 
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121 Koornang Road
Carnegie VIC 3163

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 198m2
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SERVE UP STRONG RETURNS

Secure one of the hottest investments on the Carnegie strip and settle in for a taste of long-term security and growth. Currently tenanted by a proven operator with a 5-year lease for today and ongoing options, this two-storey hospitality premises is set to serve up great returns well into the future. One of the most recently renovated properties on the strip, ‘La Cabra’ restaurant’s high-quality fit-out reflects the success of the existing business. A quick walk from the station at the heart of the strip, this central property will always be preferred destination for tenants and their customers.
◈ 198sqm* 2-storey restaurant premises on 259sqm* site
◈ On 5-year lease to a proven hospitality tenant
◈ Two further 5 year options anticipating tenancy until 2039
◈ Current rental, $104,000pa+GST+outgoings
with annual 4% reviews
◈ 100-person seating capacity
◈ 2 equally stylish levels linked by a solid feature-stair
◈ Cool room, 2800L grease-trap, rev-cycle air-conditioning
◈ Well-utilised outdoor covered and open dining areas
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Property Details for 121 Koornang Rd, Carnegie

Building Type
Commercial
Floor Size
198m2
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About Carnegie 3163

The size of Carnegie is approximately 3.7 square kilometres. There are 5 parks, covering nearly 6.0% of the total area. The population of Carnegie in 2016 was 17388 people. By 2021 the population was 17909 showing a population growth of 3.0% in the area during that time. The predominant age group in Carnegie is 30-39 years. Households in Carnegie are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Carnegie work in a professional occupation.In 2021, 55.10% of the homes in Carnegie were owner-occupied compared with 52.40% in 2016.

Carnegie has 12,025 properties. Over the last 5 years, Houses in Carnegie have seen a -6.05% decrease in median value, while Units have seen a -7.54% decrease. As at 31 July 2026:

  • The median value for Houses in Carnegie is $1,603,621 while the median value for Units is $602,296.
  • Houses have a median rent of $835 while Units have a median rent of $595.
There are currently 26 properties listed for sale, and 26 properties listed for rent in Carnegie on OnTheHouse. According to Cotality's data, 561 properties were sold in the past 12 months in Carnegie.

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Andrew Mclaren
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James Davie
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